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The remote vehicle diagnostics market is projected to reach a market size of USD 30.22 billion by 2021, growing at a CAGR of 16.79% from 2016 to 2021. The remote vehicle diagnostics market is driven by the increasing demand for luxury and comfort features in the automotive industry. Growing concerns regarding data security are a major restraint of the remote vehicle diagnostics market.

Wireless Fidelity (Wi-Fi) connectivity technology is expected to dominate the remote vehicle diagnostics market. The market for Wi-Fi in remote vehicle diagnostics is set to grow at a CAGR of 11.79% from 2016 to 2021, and is projected to reach USD 21.9 million by 2021. Premium vehicle manufacturers are integrating built-in Wi-Fi chipsets in their vehicles. A vehicle with its own Wi-Fi signal enhances the consumer experience with high-speed internet access.

North America is estimated to be the largest market for remote vehicle diagnostics, accounting for approximately 45% of the total market share in 2016. It is estimated to occupy the largest market share during the forecast period. The North American region is a frontrunner in terms of technology, and is consequently expected to lead the remote vehicle diagnostics market. The North American remote vehicle diagnostics market, in terms of value, is dominated by the U.S., followed by Mexico and Canada.

The study contains insights provided by various industry experts, ranging from material suppliers to Tier I companies and OEMs. The break-up of the primaries is as follows:

By Company Type - Tier I - 60%, Tier II - 30%, and Tier III - 10%

By Designation - C level - 35%, D level - 50%, and Others - 15%

By Region - North America - 36%, Europe - 37%, Asia-Oceania - 21%, and Rest of the World - 6%.

FEATURED COMPANIES

The global remote vehicle diagnostics market is projected to grow at a CAGR of 16.79% from 2016 to 2021, to reach a market size of USD 30.22 Billion by 2021. Stringent emission norms, the rising demand for safety and security in vehicles, and the growing inclination towards premium vehicles are expected to propel the growth of the remote vehicle diagnostics market.

The remote vehicle diagnostics market, by application, is dominated by the roadside assistance segment, which is estimated to be the largest market, in terms of volume, during the forecast period. The high demand for roadside assistance as a standard feature in vehicles is attributed to the advantages it offers, including remote assistance at the time of a vehicle breakdown, emergency support, and sending a mechanic in case of critical failure. The market for such applications is witnessing substantial growth, with regulatory bodies planning to mandate some of the applications.

Bluetooth technology is estimated to hold the largest share in the remote vehicle diagnostics market, by connectivity. This trend is expected to continue during the forecast period. Bluetooth technology is primarily used to enable in-car connectivity between a vehicle’s dashboard and electronic gadgets such as smartphones, laptops, and tablets. Given the increasing demand from end-users to incorporate smartphone features such as navigation, diagnostics, and infotainment inside the vehicle, Bluetooth technology has become an essential feature in vehicles.

The North American region is estimated to be the largest market for remote vehicle diagnostics during the forecast period. This can be attributed to the high adoption rate of innovations and advanced technology in the region. Additionally, the demand for premium cars with advanced safety and security features is high in this region. North America has some of the most stringent regulations for vehicle safety, emissions, and fuel economy in the world; this is expected to boost the market for remote vehicle diagnostics in the region.

A key factor restraining the growth of the remote vehicle diagnostics market is data security and privacy concerns. Owing to the increased number of electronic components in the vehicle, additional data has to be diagnosed on a real-time basis. The need to provide real-time information would bring about the threat of cybersecurity. This would adversely affect the remote vehicle diagnostics market.

The global remote vehicle diagnostics market is dominated by established players such as Robert Bosch GmbH (Germany), Continental AG (Germany), OnStar LLC (U.S.), Magneti Marelli S.p.A (Italy), Delphi Automotive PLC (U.K.), Softing AG (Germany), Voxx International Corporation (U.S.), Snap-On Inc. (U.S.), and Vector Informatik GmbH (Germany). These companies have been focusing on new product development and collaborating with key local organizations to expand their presence in the global remote vehicle diagnostics market. OnStar LLC is currently the market leader, and has adopted expansion a key strategy to gain traction in emerging markets. For instance, in 2016, the company entered the Argentinian market to expand its presence in South America.